Mortgage Rate Update 9-27-13: Trends Projections

By
Mortgage and Lending with AmeriFirst Financial Inc, San Diego, CA NMLS 259027

A lack of progress in the debt ceiling talks have hurt stocks and helped Mortgage Backed Securities (MBS) again this morning. Pricing opened with an average improvement of 0.125 - 0.250 to points/credits (not rates).

This daily mortgage interest rate report is designed to provide Borrowers & Real Estate Profesionals with factual data regarding where rates are at any given time and what trends are propelling current mortgage pricing on any given day. Feel free to browse the library and research historical rate updates dating back over 2 years at www.JasonGordon.info whenever desired.  To make things easier, I have also posted a quick report on How To Read The Charts Below.

Also, make sure to learn THE TOP 10 THINGS TO KNOW ABOUT MORTGAGE RATES (to help understand the relationship between rates & fees/credits) along with THE TRUTH BEHIND MORTGAGE QUOTES (to better understand the relationship between up-front closing costs and mortgage interest rates so you don't get duped by clever advertising campaigns). Remember, we all make better decisions in life when we have the actual facts to analyze...share this report with those whom you care about!

Jason E. Gordon - Mortgage Rate Update - www.jasongordon.net

The Mortgage Street Smarts of where mortgage interest rates are going (and why):

The following information is current as of Friday 9-27-2013 and will help you understand today's best mortgage rates. If you are a Buyer/Borrower who is still on the fence (or if you are a Real Estate Agent attempting to educate your "on the fence" Buyer), please review these trends and secure an historically low interest rate before it is too late.

The market closed Thursday with a WORSENING to pricing.  Thursday's WORSENING netted a change of 15 basis points (bps).

(hint: upward activity is good, downward activity is bad)

 

The following chart summarizes the activity of today thus far:

 

The following chart shows market activity over the past 10 days (hint: green is good, red is bad):

 

The following chart shows market activity over the past 1 month:

 

Daily Interest Rate Snapshot (sample of rates from one of the country's largest Lenders...individual pricing will vary based on specific Borrower qualifications): NOTE: This Lender has quoted a 1.00% Origination Fee (1 Point) to accompany this pricing. It bears noting that this chart does not necessarily represent todays best mortgage rates.

 

Market Commentary (Neil Trenerry)

FNMA 30-Year:
3.0 Coupon: Open 97.4688 Change 0.1563
3.5 Coupon: Open 101.5781 Change 0.0781
4.0 Coupon: Open 104.6875 Change 0.0625
 
Treasuries:
5 Year: Open 99.8047 Change 0.0781 Yield 1.4160
10 Year: Open 98.8125 Change 0.0781 Yield 2.6390
30 Year: Open 98.6875 Change -0.0000 Yield 3.6980
 
Key Economic Data
EUR/USD: Open 1.3542 Change 0.0054
GBP/USD: Open 1.6097 Change 0.0059
USD/JPY: Open 98.460 Change -0.510
Oil: Open 102.95
 
Key Economic Data:
PCE for Aug
Personal consump: Actual 0.2%, Last 0.0%, Revised 0.1%.
Personal income: Actual 0.4%. Consensus 0.4%, Last 0.1%, revised 0.2%.
Core PCE index yy: Actual 1.2%, Last 1.2%, Revised 1.1%.
PCE price index mm: Actual 0.1%, Last 0.1%.
Core PCE price index mm: Actual 0.2%, Consensus 0.1%, Last 0.1%.
PCE price index mm: Actual 1.2%, Last 1.4%.
6:55: Univ of Michigan for Sep
Sentiment: Consensus 78.0, Last 78.8.
Conditions: Consensus 92.0, Last 91.8.
Expectations: Consensus 68.5, Last 67.2.
7:30: ECRI weekly index: Last 132.4.
 
Advice:
Treasuries extended a third week of gains amid speculation a political standoff over the U.S. budget will lead to a government shutdown, boosting demand for the safest assets.
My position on MBS stays neutral.

Market Commentary (Dan Rawitch)

Todays news was all within expectations, but on the good side of expectations. Bonds are remaining bullish and continue to be willing to push the current trend. We arre at the top of residual resistance back from late June. Not sure if we have the momentum and velocity to blow through that today. We are still due for a small correction, so I remain cautious here.
 
Here is today's video:

Trusted Industry Advisor

San Diego Residential Mortgage Specialist Jason E Gordon

The above information was compiled and distributed by San Diego Residential Mortgage Specialist, Jason E Gordon in an effort to provide transparency regarding true mortgage rate activity and market guidance to consumers and professionals interested in this activity. All Market Commentary is provided via The Mortgage Coach and/or their RateWatch technology software.

As a Certified Mortgage Planning Specialist (CMPS) Certified Distressed Property Expert (CDPE) and Certified Mortgage Coach (CMC), Jason E Gordon utilizes his advanced training to examine a prospective Client's complete financial picture, while carefully listening to their overall goals. If it is mutually agreed that a new loan makes sense to pursue, Jason strives to make the entire loan process as seamless as possible. He truly believes that providing open communication and patient educational guidance to his Clients and Business Alliances has been a pivotal component to building his business, while enhancing his reputation in the Mortgage Industry as a Trusted Advisor. Visit www.jasongordon.net or www.ApprovingSD.com or more information.

Click here for daily mortgage interest rate updates and projections for San Diego's best mortgage rates

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For more information on topics like this, please feel free to visit www.GordonMortgage.com (an educational resource for Borrowers, Real Estate Agents, and Financial Professionals). Educational content provided by:

 

Jason E. Gordon

Branch Manager | Sr. Mortgage Loan Officer

CMPS, CDLP, RCS-D, CDPE, CMHS, CMC, NMLS 259027

 

Gordon Mortgage Group - AmeriFirst Financial Inc.

 

Office: 619-200-8031

Email: jgordon@amerifirst.us

www.GordonMortgage.com

 

11440 W. Bernardo Court, Ste. 300, San Diego, CA 92127

 

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Attention Real Estate Agents!

 Ever heard of a Lender having more "skin in the game" during escrow than a Buyer? Ever wish a Lender would put their money where their mouth is? Learn how the Protect Your Transaction (PYT) program will improve the negotiation leverage for a Buyer, as well as how PYT benefits the Seller & Realtors in this short video.

 

 

 

Recommended Links:

 

To see if you qualify (and to obtain a current market interest rate quote), click here for a secure online loan application form.

 

Gordon Mortgage Group - AmeriFirst Financial

 

Licensed by the Department of Corporations under the California Residential Mortgage Lending Act.

AmeriFirst Financial Inc., 1550 E. McKellips Road, Suite 117, Mesa, AZ 85203 (NMLS #145368) Toll free phone (877) 276-1974. Copyright 2012. All rights reserved. This is not an offer to enter into an agreement. Not all customers will qualify. Information, rates, and programs are subject to change without prior notice. All products are subject to credit and property approval. Not all products are available in all states or for all loan amounts. Other restrictions and limitations may apply. AmeriFirst Financial is required to disclose the following licensing information. Please click here for licensing information. 

 

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